Sponsored by Oregon Business

Oregon banks continue slide

| Print |  Email
Wednesday, October 01, 2008

BankStockChart

STATEWIDE In the March issue of Oregon Business we quoted the Beatles in regard to the recent fortunes of Oregon-headquartered banks: “It’s getting better all the time (can’t get much worse).”

Unfortunately, it can always get worse, and for most local banks, it has. The Dalles-based Columbia River Bancorp swung to a loss in the second quarter, causing executives to bite the bullet with voluntary pay cuts and to shut down the bank’s mortgage business in September, eliminating 70 jobs.

That’s not the only bad news. Income is down and nonperforming assets are up for Cascade Bancorp of Bend and West Coast Bancorp of Lake Oswego. Premier West Bancorp of Medford and the largest bank headquartered in Oregon, Umpqua Holdings, are both paying the price for backing residential construction in California.

The chart above shows Sept. 2007-Sept. 2008 year-over-year drops in stock prices for the six major public banks headquartered in Oregon. Third-quarter results for 2008, due out in mid-October, will be closely studied for signs of improvement, such as the recent announcement by Umpqua that its residential real estate loans bucked the trend by increasing during the first half of 2008.         

BEN JACKLET


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

Epitaph for a Boondoggle

April 2015
Friday, March 27, 2015
BY JOE CORTRIGHT

The CRC is a cautionary tale about how we plan for, finance and invest in transportation infrastructure.


Read more...

Oregon Business expands events portfolio

The Latest
Friday, March 27, 2015
htctfacebookBY OB STAFF

New events series brings magazine to life.


Read more...

4 winners and losers in the Kitzhaber scandal

The Latest
Thursday, February 12, 2015
021315-govorno-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Examining the governor's rapid fall from grace in a "bizarre" and "unprecedented" saga.


Read more...

Beam Me Up

April 2015
Thursday, March 19, 2015
BY DAN COOK | Photos by Jason E. Kaplan

An alliance of developers, academics and timber industry executives wants to position Oregon as a front runner in the glamorous new world of wooden skyscrapers.


Read more...

Cache and Curry

March 2015
Monday, February 23, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR

Power Lunch at Swagat in Hillsboro.


Read more...

Power Players

April 2015
Friday, March 27, 2015
BY ROBERT MULLIN

A new energy-sharing agreement sparks concerns about independence and collaboration in the region's utility industry.


Read more...

Thy neighbor's house

March 2015
Friday, February 20, 2015
BY LINDA BAKER | OB EDITOR

Vacasa may lack the name recognition of Airbnb. But not for long.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS